👨🏿🚀TechCabal Daily – ‘Crypto averts catastrophe’
On today's edition: South Africa reverses proposed crypto rule || Foreign capital reduces in Kenya’s KCB || Bolt expands EV bet in South Africa || Disney and Netflix call a truce
South Africa has changed its mind about regulating cross-border crypto transfers. The country initially proposed strict controls, requiring crypto transactions to be made through authorized providers, adhering to foreign exchange limits, and being reported to the South African Reserve Bank. However, the government has received numerous comments on the proposal, leading to a shift in approach.
Instead of pre-approvals, the government now aims to verify the legitimacy of transactions and ensure they comply with tax rules. A revised draft will be published for public feedback again.
Written by urgent.news from TechCabal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
